Sulpho Tobias Acid Market Size Expected to Reach US$120.3 million with CAGR of 3.2% by 2027 – IndustryARC


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Growing Textile Industry will boost the consumption of Sulpho Tobias Acid Market.

HYDERABAD, TELANAGANA, INDIA, January 20, 2023 / -- IndustryARC, in its latest report, predicts that Sulpho Tobias Acid Market size is forecast to reach US$120.3 million by 2027, after growing at a CAGR of 3.2% during 2022-2027. sulpho tobias acid is an organic acid of an amino group that serves a variety of functional purposes like dyestuff intermediates, pharma intermediates, and others. Sulpho tobias acid is widely available in polythene liners packaging to maintain the moisture of the sulpho tobias during transportation. Sulpho tobias is widely used in textile, pharmaceutical, and other sectors for paints, printing inks, dyes, silica gel, and others. According to UK Fashion and Textile Association, the number of UK garment manufacturers number has been increased by 13% in the last ten years to 4,005 by 2020. Online retail sales for textiles, clothing and footwear increased to an all-time high of 31% in 2020. Therefore, the manufacturing sector of textile and its sales along with growing demand from industrial, pharmaceutical, and others will boost the demand for the Sulpho Tobias Acid Market during the forecast period. The report offers a complete analysis of the market, its major segments, growth factors, trends, drivers and challengers, key players and more.

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Key Takeaways :

This IndustryARC report on the Sulpho Tobias Acid Market highlights the following areas -

1. The Asia Pacific is expected to register a CAGR of 3.8% during the forecast period (2022-2027). The increasing demand from textile manufacturing, pharmaceutical, and others, among Asian countries such as China, India, Japan, and South Korea is driving the market for foam glass.

2. The rise in demand for dyestuff and pharma intermediates from the manufacturing sector is boosting the Sulpho Tobias Acid Market.

3. Robust demand for polythene liners packaged sulpho tobias acid from the textile industry is the major cause fuelling the Sulpho Tobias Acid Market growth rate owing to the use of dyes to a greater extent.

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Segmental Analysis:

1. The technical segments accounted for around 75% of the market share in 2021 and are estimated to grow at a significant CAGR during the forecast period. Technical-grade sulpho tobias acid is widely used as a dyestuff intermediate in textile, plastic, paper, and other sectors.

2. Asia Pacific region held the largest share in the Sulpho Tobias Acid Market in 2021 up to 42%, owing to the growing textile, pharmaceutical, plastic, paints, printing inks, and others, in developing countries like China, India, Indonesia, and others. The major factor responsible for the growth of sulpho tobias acid acts as the dye intermediates in various end-use industries.

3. The Textile segment accounted for approximately 35% of the market share in 2021 and is estimated to grow at a significant CAGR during the forecast period. Sulpho tobias acid is widely used as a dye intermediate solution in a textile application for fibers, yarns, and fabrics to achieve color with the desired colorfastness.

Competitive landscape:

The top 5 players in the Sulpho Tobias Acid industry are:

1. Bhageria Industries Limited
2.Shanghai River Chemical
3. Ambuja Intermediates Limited
4. Panoli Intermediates
5. Yuhao Chemical

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